When, in 1998, Chris Martin complained to Phil about the vice-like grip one of the Camden promoters had on the band, he suggested that they put on their own event at Dingwalls in Camden. It was here that they managed to sell the first fifty copies of the Safety EP, which Phil himself had helped fund, with his father (Christopher Harvey) and his Oxford roommate.[2] It is generally considered that this was when he could first be described as the band's manager.

Having eventually dropped out of Oxford to manage the band, he carried out the role more or less single-handedly until early 2001, when the stress of performing a role usually requiring a team of people forced him to take a prolonged break. He has since stated that the 2001 Brit Awards was his lowest point:

I was feeling like death when I should have been on top of the world. The band picked up awards for Best British Band and Album and all I could think about was how much I wanted to be in bed. It was two days later that my doctor phoned to say she was worried I might be about to slip into a coma.[2]